Reverb Appeals To Budget-Conscious Shoppers With New Reverb Outlet Offering
Etsy-owned musical instrument marketplace Reverb targets budget-conscious shoppers with new Reverb Outlet offering.
This new section of the site will feature a rotating collection of new and like-new music gear sold by authorized retailers and brands for at least 20% off retail prices, with free shipping and a minimum 7-day return window.
“Outlet music gear is a fantastic value for music makers. Often, it’s brand new overstock or clearance music gear that retailers or brands are simply looking to clear out. Other times, it’s gear that’s been opened, used for a demo, or simply doesn’t have its original box, but is otherwise in like-new condition,” said Jim Tuerk, Reverb’s Director of Business Development. “With the launch of the Reverb Outlet, we’re making it easy to access your favorite brands for less.”
What will you find in The Reverb Outlet?
Brand new
New gear in the The Reverb Outlet is typically overstock or clearance music gear that pro sellers are looking to clear out. This gear is brand new—the only difference is the price!Mint
Mint gear is completely blemish-free and hasn’t been modified in any way—it simply might have been opened & returned or played in a demo video, so it’s not considered brand new.B-stock
B-Stock gear plays perfectly and may have a minor issue, like a cosmetic blemish or a non-original box. Because it’s not “factory-fresh,” you get it at a great value.
Reverb was acquired by Etsy in 2019 as part of their "House of Brands" strategy which also included the acquisition of fashion resale marketplace Depop and Brazilian handmade marketplace Elo7 in 2021.
The strategy has had questionable results for Etsy, as these smaller sites have yet to add significant growth to the bottom line, and Etsy sold off Elo7 last year for an undisclosed sum.
The sale led to speculation about whether Etsy may spin off Reverb and/or Depop sometime in the near future as well, and that possibility has only grown as notorious activist investor Elliott Management has taken a significant stake in the company and a seat on the board.
In reaction to the increasing pressure to make the House of Brands strategy finally start paying off, Chief Product Officer Bradford Shellhammer revealed earlier this year that Reverb was building a new Revenue Team to focus on "driving long-term revenue growth...including improving our existing seller advertising platform, Bump, shipping, and protection services, and building new products that provide value to buyers and sellers on our marketplace."
Liz Morton
What do you think of The Reverb Outlet? Let us know in the comments below!
